ICBC(china's biggest bank) singapore branch issues dual currency unionpay creditcard

D_B_M_S

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Hi, just got this card and it seems none mentioned here yet.

The card will be good if you visit china often and spend a lot in RMB, since all transactions in China will be billed in RMB and you can choose to pay in either RMB or SGD, incurs no forex loss. any charges in Spore or other regions (inlcuding HK) will be in SGD.

And if you are taking china domestic flight, best of it is that u can use upto 38 lounges in china by simply showing the card...

however, it will be a bit troublesome to pay off the bills, unless u have an account with them, u have to either pay by cheque (in SGD) or go to there only branch in john hancork tower...
 

ccssgm

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I did it on line..and was ask to send in by Orginal Signature by POST..
 

purplewave

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online? i printed the pdf form, filled in and send via post
 

hclee01

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Anyone has successfully applied and received the card? Can I check how long does it take for the card to be approved and received? I may be travelling to China next month and thinking of applying of this card if the approval time does not take too long.
 

purplewave

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just mailed out yesterday. counting now.. will post once received.

Anyone has successfully applied and received the card? Can I check how long does it take for the card to be approved and received? I may be travelling to China next month and thinking of applying of this card if the approval time does not take too long.
 

kaliuyang

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do we need to have a rmb saving account with them so that we can pay the card with rmb spending? BTW, can i use the card in takashimaya for the 10% discount?:D
 

ccssgm

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do we need to have a rmb saving account with them so that we can pay the card with rmb spending? BTW, can i use the card in takashimaya for the 10% discount?:D

Use this card if there is a UnionPay Logo
ChinaUionPay.png
 

ccssgm

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Application process in China/HongKong
Approve , Cards issue in Singapore
 

hclee01

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Application process in China/HongKong
Approve , Cards issue in Singapore

Based on this process, it will probably take a while for the entire card processing to be completed. Can the staff in China/HK has access to the credit bureau data?
 

ccssgm

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Due to 1/10/2011 to 7/10/2011 is China National Day
They only can process 10/10/2011 onwards..
 

cscs3

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Hi, just got this card and it seems none mentioned here yet.

The card will be good if you visit china often and spend a lot in RMB, since all transactions in China will be billed in RMB and you can choose to pay in either RMB or SGD, incurs no forex loss. any charges in Spore or other regions (inlcuding HK) will be in SGD.

And if you are taking china domestic flight, best of it is that u can use upto 38 lounges in china by simply showing the card...

however, it will be a bit troublesome to pay off the bills, unless u have an account with them, u have to either pay by cheque (in SGD) or go to there only branch in john hancork tower...

I believe they will still bill you in S$ unless you open a RMB account.
 

hclee01

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I believe they will still bill you in S$ unless you open a RMB account.

I think they will bill in RMB if it is CNY transactions.

http://www.icbc.com.sg/personal/Introduction of Payment Methods.pdf

CASH PAYMENT
Cash payments should be made over counter at 6 Raffles Quay #01-01 with your identification and credit card no. You can choose Repayment of credit card RMB account debts using RMB, Repayment of credit card SGD account debts using SGD, or Repayment of credit card RMB account debts using SGD by purchasing RMB. The exchange rate will take the market exchange rate on the payment day.

To learn the exchange rate, you could call the 24-hour hotline (65-63695588).

http://www.icbc.com.sg/personal/Introduction of Dual Currency Credit Card.pdf

Features
* Tailored and unique design featuring dual currency accounts
Apart from the basic functions of overdraft, spending and transfer, the product also features dual currency accounts in RMB and SGD for cardholders’ convenience when travelling to and from China. Cardholders can spend money in RMB on the Chinese Mainland and SGD in Singapore and the rest of the world. As a result, cardholders can easily make settlements in RMB for the spending in Mainland China without worrying about the exchange fees.

* Two accounts with one shared credit limit for carefree spending
There is a shared credit limit for the two accounts, which means cardholders can spend as much as they like within that shared limit, either in RMB or SGD.
 
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